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Citiraj:
Intel plans sale and leaseback of its 150-acre Folsom, California campus — releasing capital but maintaining operations and staff
Citiraj:
When companies experience financial difficulties, they might often sell off property to make some cash. In many cases, the companies lease the property back so as not to move their facilities, so not many things change. This is apparently what is going to happen to Intel's campus in Folson, California, reports OregonLive. The company is set to sell its 150-acre Folsom, California campus, but keep the site operational. Intel plans to keep its Folsom site near Sacramento operational as the facility currently houses some 5,000 employees who mostly work on software, including GPU drivers, cloud software, and system software. The company aims to optimize the use of the property, which includes seven buildings with 1.6 million square feet of office and lab space. In particular, Intel plans to ink partial leaseback agreements.
The company is also reviewing its 50-acre Hawthorn Farm property in Oregon and consolidating activities at its Santa Clara headquarters. In Oregon, Intel is assessing its smallest site, Hawthorn Farm, which houses offices and labs used for motherboard technology research. The property, operational since the late 1970s, saw 124 job cuts recently but has no immediate plans for sale. Intel is encouraging employees to move to more densely occupied sites in the state. These measures target eliminating underused spaces and fostering in-person collaboration at major hubs. "We are shifting our global real estate strategy to focus on fewer, more populated locations and eliminate underutilized space," a statement by Intel published by OregonLive reads. "This approach will foster greater in-person collaboration at our largest sites while also delivering cost savings for the company."
Sales and leasebacks have become a strategic tool for Intel to generate cash from its real estate portfolio. While the company is downsizing and consolidating operations, it continues to refine its long-term strategy to balance cost savings while maintaining operational capabilities. This strategy aims to strengthen collaboration, reduce waste, and position the company to recover from its current financial and competitive challenges. The decision to adjust real estate holdings aligns with Intel's aim to reduce costs by $10 billion. This has already resulted in 15,000 job cuts globally, including 272 in Folsom and 1,300 in Oregon.
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Izvor: Tom's Hardware
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EDIT:
Intelova aktualna situacija je skoro, pa identična AMD-ovoj otprije trinaest godina - 60% pad vrijednosti dionica, rasprodaja svega da prežive uz glasine o mogućoj kupnji od veće firme.
Citiraj:
Intel brags of $152 billion in stock buybacks over last 35 sears. So why does it need an $8 billion subsidy?
Citiraj:
Intel, the largest chip maker in America, with 2023 revenues of $54 billion, has just been awarded an $8.5 billion grant from the federal CHIPS and Science Act, plus $11 billion in favorable loans. In addition to badly needed microchips, Intel produces totally useless stock buybacks. On its website the company proudly proclaims to have spent $152 billion on stock buybacks since 1990. That’s not a typo: $152,000,000,000. Which is why I call it "Stock Buybacks Я Us."
Intel took $152 billion of its revenues, some portion of which could have been used for R&D and building new microchip facilities in the U.S. as well as paying workers more, and instead funneled it to its largest Wall Street stockholders and corporate executives, enriching the top fraction of the top one percent. A company repurchasing its own shares sees earnings per share rise because there are fewer shares in circulation. Share prices rise, though nothing new is made, and the largest stockholders, including top Intel executives, cash out with eye-popping profits. Intel CEO Pat Gelsinger hauled in $179 million in 2021, most of it coming from stock-related compensation.
Stock buybacks are a form of stock manipulation, which is why they were outlawed by the Securities and Exchange Commission after the Great Depression, up until deregulation in 1982, that limited buybacks to two percent of profits. Now it’s all the buybacks your corporation can eat, with nearly 70 percent of all corporate profits going to this form of stock manipulation.
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Zadnje izmijenjeno od: The Exiled. 25.11.2024. u 20:36.
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